ADNOC Distribution said it has signed a definitive agreement to acquire 100% of Shell Downstream South Africa (SDSA) for an implied enterprise value of about $1 billion, including 580 fuel stations and wholesale fuel, aviation and lubricants operations. The deal is expected to close in 2027 and is projected to lift earnings per share by 6% in the first full year after completion, with an IRR above the company’s hurdle rate. After completion, a 28% stake in SDSA is expected to be sold to a local empowerment partner and an employee stock option plan. ADNOC Distribution is listed on the Abu Dhabi Securities Exchange under the symbol ADNOCDIST.

Meridian3 Industrials Acquisition Corp (MIACU) has completed a $201.25 million initial public offering, issuing 20,125,000 units priced at $10.00 each. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. The SPAC said it plans to focus on industrial technology sectors including Industry 4.0, smart manufacturing and next-generation mobility, and has not announced a business combination target or timetable. Proceeds are expected to be placed in a trust account pending a future business combination.

Tesla said its 2026 second-quarter global deliveries rose 25% year over year to 480,126 vehicles, well above Deutsche Bank’s 416,000 forecast. The stock fell 7.1% intraday as investors weighed concerns about heavy R&D spending and a slower pace of product refreshes. Separately, Ford reported an aluminum supply disruption after a fire at a New York state supplier, and F-150 sales fell 11% year over year, underscoring supply-chain risks for key industrial metals.

First Atlantic Nickel & Cobalt has appointed Gary Stanley, the former director of the Office of Critical Minerals and Metals at the United States Department of Commerce, as a senior strategic advisor. Stanley was the lead coordinating author of the June 2019 Federal Critical Mineral Strategy and was involved in U.S. policy work including the Inflation Reduction Act. The appointment follows the company’s June 24 announcement that it produced a high-grade alloy concentrate grading up to 71.9% nickel and 1.76% cobalt from its Pipestone XL project using its ONSHORE MAX™ magnetic recovery process. The company said the smelter-free process could enable direct refining of nickel sulphate (NiSO₄) that qualifies under Section 45X(c)(6), while noting the project remains at the exploration stage with no confirmed resources.

The Philippine Department of Energy said gasoline retail prices will rise by as much as P1.90 per liter starting Tuesday. Kerosene is expected to increase by around P1.22 per liter, while diesel will drop by up to P1.16 per liter. Local oil firms implement the adjustments as part of their regular Tuesday pump-price update, according to the DOE.

Philippine oil firms expect pump prices to rise next week, with diesel seen up by P1.20 per liter and gasoline by P1.50 per liter. The projected adjustments are based on four days of trading in the Mean of Platts Singapore benchmark for refined products in Southeast Asia. Firms cited Middle East-related uncertainty, including questions over the durability of the US-Iran interim peace deal and reports of a suspected cargo-vessel attack in the Strait of Hormuz.

Retail diesel and gasoline prices in the Philippines are expected to increase next week as uncertainty in the Middle East keeps pressure on markets despite a recent peace deal between the US and Iran, local oil industry sources said on Friday. Diesel may rise by as much as P1.20 per liter and gasoline by as much as P1.50 per liter. The estimates are based on the four-day trading average of the Mean of Platts, Singapore, a benchmark for refined products pricing in Southeast Asia.

Mustang Minerals said it will sell its wholly owned El Cobre copper-gold porphyry project in Mexico for US$1,500,000 in cash, pending TSXV regulatory approval. The company said the divestment is intended to focus resources on advancing its 2026 copper and gold exploration plans in Nevada, including the Red Ring, Confusion Hills and Pilot projects. El Cobre is a pre-production exploration asset with no historical production and no announced resources, and the sale does not involve changes to output, supply chains or broader industry supply-demand dynamics.

Cerebras Systems reported GAAP revenue of $193.4 million for the first quarter of fiscal 2026 ended March 31, 2026, up 94% from a year earlier. The company also announced a multiyear agreement for OpenAI to deploy 750 megawatts of Cerebras high-speed inference compute valued at more than $20 billion. Cerebras said it is launching a multiyear partnership with Amazon to bring fast inference to AWS through a disaggregated inference strategy and global distribution. It also said it raised $6.4 billion in gross proceeds through its IPO and trades on Nasdaq under the ticker CBRS.